-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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The turnout was 4K, but not mentioned in the article, the undergrad enrollment is over 30k and total enrollment is over 50k.
Believe but not sure that all those numbers are for UIUC, not including UIC and UIS.
https://dmi.illinois.edu/stuenr/#abstract
Letting the inmates run the asylum rarely ends well, but since King Pritzker is determined to destroy this state from within, why not try this little exercise in stupidity.
I’m all for the defund the police movements. Get your popcorn, an easy chair, sit back and watch the circus.